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The Latest Breaking News from Future Retail

SC quashes CCI’s Rs 202 crore penalty on Amazon over Future Coupons deal

The Supreme Court has overturned a Rs 202-crore penalty imposed on Amazon by the Competition Commission of India. This penalty was related to Amazon's 2019 investment in Future Coupons. The CCI had alleged that Amazon suppressed information during the approval process. This development follows a mutual settlement between Amazon and…

The Economic Times

Kishore Biyani steps down as chairman, director of Future Retail

NEW DELHI: Kishore Biyani has stepped down as chairman of the suspended board of the debt-ridden Future Retail, which is currently facing insolvency proceedings.

The Times of India

Future Retail insolvency: Expression of interest invited from prospective buyers by October 20

NEW DELHI: The resolution professional of Future Retail Ltd (FRL) has invited 'expression of interest' from prospective buyers under the ongoing Corporate Insolvency Resolution Process (CIRP).

The Times of India

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Creditors file Rs 21,000 crore claim against Future Retail

MUMBAI: Financial creditors to Future Retail have put in claims for Rs 21,058 crore, while operational creditors have sought another Rs 265 crore. Besides these, there are employee dues of Rs 9.8 crore and Rs 1.1 crore claims from other creditors.

The Times of India

How a creditor revolt scuttled Mukesh Ambani’s $3.2 billion retail deal

NEW DELHI: The preferential treatment of bondholders riled banks enough to reject a $3.2 billion rescue deal from one of Asia’s richest men for a debt-laden unprofitable retail chain, according to people familiar with the matter.

The Times of India

Future Retail claims shareholders' meet for Reliance deal is legal, in response to Amazon's allegations

NEW DELHI: Big Bazaar-parent Future Retail (FRL) on Friday said the meetings of its shareholders and creditors that are scheduled to be held on April 20 and 21 for the approval of its proposed deal with Reliance Retail are “legal” and conform to the directions issued by the National Company…

The Times of India

Future Retail's shareholders' meet to approve Reliance deal is 'illegal': Amazon

NEW DELHI: Amazon has written to Big Bazaar-parent Future Retail alleging that the upcoming meetings of its shareholders and creditors for the approval of the retailer’s proposed Rs 24,700-crore deal with Reliance Retail is “illegal”.

The Times of India

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Amazon Dubs Take Over Of 800 Future Retail Stores By Reliance A 'Sham Transaction'

The ongoing tussle between the American e-commerce giant Amazon.com Inc. (NASDAQ: AMZN) and Indian retailer Future Retail (FRL) continued in the Delhi High Court on Tuesday (Indian Standard Time).

Benzinga

Amazon-Future dispute: SC asks whether it can pass orders restraining alienation of FRL's assets

NEW DELHI: The Supreme Court on Friday asked whether it can pass any interim order on a plea of Amazon that Future Retail's assets including 'Big Bazaar shops' not be alienated till the dispute over it's merger with Reliance Retail is decided by the arbitral tribunal.

The Times of India

Future Retail CEO Sadashiv Nayak resigns after 7 months of his appointment

NEW DELHI: Debt-ridden Future Retail Ltd's CEO Sadashiv Nayak has resigned from the post seven months after his appointment, according to a filing.

The Times of India

Amazon seeks SC order for resumption of arbitration & preservation of FRL assets

NEW DELHI: US e-commerce major Amazon Wednesday apprehended the “disappearance” of assets and sought an interim order from the Supreme Court to ensure the preservation of assets of Future Retail Ltd besides resumption of arbitration over FRL's merger deal with Reliance Retail.

The Times of India

Future Retail director Rahul Garg resigns

NEW DELHI: Future Retail Ltd's director Rahul Garg has resigned from the board, a regulatory filing by the debt-ridden company said on Tuesday.

The Times of India

How Mukesh Ambani outfoxed Amazon in a $3.4 billion deal dispute

NEW DELHI: Amazon has been added to the list of companies that have been outmaneuvered by Mukesh Ambani’s juggernaut. Not only has he jolted the US giant in the fight to dominate India’s retail sector, he now holds all the cards in a $3.4 billion dogfight to buy a local…

The Times of India

Let Reliance, Amazon bid for Future Retail: Banks to SC

NEW DELHI: Pushing for ownership over the litigation mired assets of Future Retail owned by beleaguered Biyani group, a consortium of 27 banks on Thursday told the Supreme Court that the best way out of the present mess is to ask both Reliance Retail and Amazon to make open competitive…

The Times of India

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The Times of India

Can't sell Easyday and Heritage Fresh without our consent, Amazon says in letter to Future Retail

NEW DELHI: Amazon has written to Big Bazaar parent, Future Retail (FRL) in an effort to block the proposed sale of the latter’s small format chain of stores, Easyday and Heritage Fresh.

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